Consumer Action condemns the House’s vote to repeal class actions

Contact: Linda Sherry (202) 544-3088 Ruth Susswein ( 301) 718-2511

The U.S. House of Representatives passed a resolution (H.J. Res. 111) today to repeal the new Consumer Financial Protection Bureau (CFPB) rule to restore consumers’ right to band together to hold banks and lenders accountable in class action lawsuits when they break the law.

“House Republicans should be ashamed of their disgraceful decision today to deny millions of consumers the right to sue financial companies that defraud them,” said Linda Sherry, Consumer Action’s director of national priorities.

The House used the Congressional Review Act to vote to repeal the CFPB rule. The debate now heads to the Senate, which also must pass a resolution to repeal in order to permanently eliminate a consumer’s right to class actions.